The largest project Stockland has ever proposed is closer to development in Queensland following the local council’s decision to discontinue legal action against the declaration of the site as an Urban Development Area.
Sunshine Coast Regional Council pointed to the need to give the project in Caloundra South on the Sunshine Coast certainty and described it as in the public interest.
The proposed community spans an area of 2,310 hectares that over the next 20 years would be home to around 50,000 residents, delivering approximately 20,000 homes, a large town centre for shopping, retirement living villages and significant opportunities for government and business investment.
Stockland proposes to include 170,000 sqm of retail and commercial space, and 650,000m² of business and industry space.
Stockland Managing Director Matthew Quinn said: “Caloundra South will set a new benchmark for innovative masterplanned communities and will reflect our position as a global leader in sustainability, as recognised by the Dow Jones Sustainability Index 2011/12 where we were recently named the most sustainable property company in the world.
Stockland anticipates the Queensland Government will make a determination on the approval for the Caloundra South Development Scheme by the end of the year.
